With the completion of two lettings at Units 8 & 10 Tannery Road, Tonbridge, the whole of Milton’s portfolio is now fully let.
The portfolio comprises over 100 business units across the South East.
David now owes the team Fish and Chips!
Milton has sold two industrial assets close to Ashford International Station in Kent.
Chunnel Industrial Estate and 1 Victoria Road combined to provide 11 units across c. 42,000 sq. ft.
Stuart Smith commented “We have had this asset under management at Milton for over 20 years, I think it might even have been at Milton longer than me! The sale continues our move away from non-core assets towards a focus on investing in and around the M25.”
Dan Grant at Stonehill Partners advised Milton on the sale.
Milton have sold their Freehold interest in 16 South Park, Sevenoaks
The property comprises a multi let office building totalling c. 20,199 sqft. in an a town centre location within Sevenoaks.
Tim Baker commented “Having bought the property in 2012 we have completed a number of lettings, renewals and rent reviews along with a refurbishment of the common parts improving the investment profile of the asset. The sale concludes a very successful project to Milton.”
Matt Brown at Lewis Ellis advised Milton on the sale.
Milton have sold their Freehold interest in Stocklund House, Chichester
The property comprises a multi let retail and office building totalling c. 5,600 sqft. in a strong pitch on East Street, Chichester’s premier shopping pitch.
Mark Douglas commented “Over the 23 months that Milton have owned the property we have re-geared 2 leases, let the office space and agreed 2 rent reviews at uplifts. The improved asset was offered to the market via Tudor Toone who also acquired the property for Milton in what has proven to be a very successful project.”
Lee Evans at Tudor Toone advised Milton.
Milton have sold their Freehold interest in 8 Units at Schooner Park, Crossways Business Park, Dartford.
The property comprises a multi let industrial scheme totalling c. 27,000 sqft. in a prime location within the Park and with excellent access to the M25.
Tim Baker commented “Milton bought the let element of the Schooner Park scheme from the developer in 2016 with the plan of offering units To Let / For Sale when they came back to us. The off market approach we had to buy the asset was at a level that allowed us to fulfil the business plan in a condensed timeframe. We continue to look for similar investments around the south east and have substantial cash funds to invest.”
Richard Turnill at Watson Day advised Milton.